Economy - Abia ThinkTank News

Jul

2025

FGN Set To Clear N81 Billion N-Power Backlog – Senate

FG Set To Clear N81 Billion N-Power Backlog – Senate The Senate on Tuesday said the Federal Government was preparing to clear the outstanding N81bn owed as backlog of N-Power allowances in 2022 and 2023. This development followed a meeting convened by the Deputy President of the Senate, Barau Jibrin, who brokered dialogue between the Federal Government, representatives of the aggrieved N-Power beneficiaries, and their counsel, Abba Hikima. Speaking to journalists after the closed-door meeting, Barau disclosed that the discussions were fruitful and had led to an understanding that payment arrangements were already underway. “The beneficiaries came here to the…

Jul

2025

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The Otti Imperative: How ABIA Is Forging Africa’s Next Generation Of Leaders, Inspired By Lee Kuan Yew – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Africa, Columns/Opinions/Letters, Economy, Empowerment, Good Governance

The Otti Imperative: How Abia is Forging Africa's Next Generation of Leaders, Inspired by Lee Kuan Yew In the annals of transformative governance, few legacies shine as brightly as that of Lee Kuan Yew, who harnessed disciplined vision and unwavering investment in human capital to forge a global powerhouse from Singapore. Today, echoing that same audacious spirit, Dr. Alex Otti, OFR, Governor of Abia State, is scripting a groundbreaking chapter in Nigeria's development narrative. His administration’s laser focus on youth empowerment, exemplified by the recent historic Youth Leaders Town Hall Meeting, transcends mere policy; it represents a fundamental reimagining of…

Jul

2025

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Nigeria ‘Designed To Fail’ – Pastor Tunde Bakare

Columns/Opinions/Letters, Economy, Politics, Security

Nigeria ‘Designed To Fail’ – Pastor Tunde Bakare Nigerian cleric and former presidential aspirant, Pastor Tunde Bakare, has declared that Nigeria is not a broken state but one fundamentally “designed to fail”, calling for a radical overhaul through what he described as a “revolution of values”. Delivering a sermon on Sunday at The Citadel Global Community Church in Lagos, Bakare said the nation was at a crossroads, driven to the edge by a corrupt political architecture propped up by tribalism, injustice, and impunity. “The system is not broken,” Bakare said. “It was designed to fail the people. And no amount…

Jul

2025

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The Intentionality Of Gov. Otti: ABIA Becoming Globally Visible Through Digital Innovation – By Ctz. Ukoha Njoku Ukoha, Chief Press Secretary To The Executive Governor Of Abia State.

Abia State, Economy, Good Governance, Information Technology, International

THE INTENTIONALITY OF GOV. OTTI: ABIA BECOMING GLOBALLY VISIBLE THROUGH DIGITAL INNOVATION. - By Ctz. UKOHA, NJOKU UKOHA, Chief Press Secretary to the Executive Governor of Abia State. Right from inception, Governor Alex Otti-led administration in Abia State, has remained very passionate about investment in Digital Technology and Innovation. The administration has made deliberate efforts not only to conscientize Abia youths on the vast opportunities in the sector, but also made it easily accessible. A number of trainings and workshops have been organised for youths with apt in digital technology and innovation. The benefits of these efforts are beginning to…

Jul

2025

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Nigerian Marketers Reduce Fuel Prices As FGN Shuts Down Economy In Honour Of Buhari

Abia State, Business, Economy, FGN, News Flash, Oil & Gas

Nigerian Marketers Reduce Fuel Prices As FG Shuts Down Economy In Honour Of Buhari Nigerian petroleum products marketers have announced a reduction of premium motor spirit prices, starting from today, Tuesday. This comes as the economy shuts down today owing to the public holiday declared by the federal government to honour ex-president Muhammadu Buhari. The national president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this to DAILY POST in an interview on Monday. According to him, the decision to cut the petrol price comes after members of IPMAN held a meeting in Abuja on Monday in…

Jul

2025

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NNPC Refineries May Never Work Again Despite $18 Billion Spent – Dangote

Economy, Business, FGN, Oil & Gas

NNPC Refineries May Never Work Again Despite $18 Billion Spent — Dangote The president of the Dangote Group, Alhaji Aliko Dangote, has said that Nigeria’s state-owned refineries, located in Port Harcourt, Warri, and Kaduna, may never operate properly again despite about $18 billion invested in their rehabilitation. Alhaji Dangote disclosed this while hosting members of the Global CEO Africa, who visited the Dangote Petroleum Refinery yesterday. He said the 650,000-barrel-per-day (bpd) refinery was constructed after the government of late President Umar Yar’adua declined to sell the refineries to him. He said, “The refineries that we bought before, which were owned…

Jul

2025

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The Bleeding Mondays (Based Exclusively On NBS, IMF, And World Bank Data) – By Dr. Chukwuemeka Ifegwu Eke

Business, Columns/Opinions/Letters, Economy, South East

The Bleeding Mondays(Based Exclusively on NBS, IMF, and World Bank Data) Prologue: The Sound of Empty MarketsIn the rusted stalls of Onitsha’s Main Market, where 1.2 million nano-traders once jostled, Mondays now echo with a silence that chills the bone. The National Bureau of Statistics counts what our eyes refuse to see: ₦88.81 billion evaporating each Monday across Southeast Nigeria. For weeks—from August 2021 to March 2025 —this ritual economic suicide bled ₦9.43 trillion from the poorest hands in the region. The IMF and World Bank whisper the broader truth: Nigeria has 86 million citizens in extreme poverty, while the…

Jul

2025

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How We Are Using Funds Saved From Subsidy – President Tinubu

Economy, FGN, News Flash, Presidency

How We Are Using Funds Saved From Subsidy – Tinubu President Bola Ahmed Tinubu said on Monday that the government was channelling funds saved from the removal of fuel subsidy into the provision of critical infrastructure across the country. He said this at the opening of a National Conference on Public Accounts and Fiscal Governance, organised by the Public Accounts Committees (PACS) of the Senate and House of Representatives in Abuja. The event had as its theme “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.” Tinubu said the funds were also being channelled into social…

Jul

2025

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Aba Export Growth Lab: Governor Otti’s Masterstroke For Economic Empowerment And Global Trade Integration – By Ebere Uzoukwa, Ph.D (SSA To Governor Otti On Public Affairs)

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance

Aba Export Growth Lab: Governor Otti’s Masterstroke for Economic Empowerment and Global Trade Integration By Ebere Uzoukwa, PhD The forthcoming commissioning of the Aba Export Growth Lab marks a significant turning point in the economic reawakening of Abia State. Spearheaded by the purpose-driven and reform-oriented Governor of Abia State, His Excellency Dr. Alex Chioma Otti, OFR, this initiative is far more than a development project—it is a bold, strategic intervention designed to reposition Aba as a formidable industrial and export-driven hub in Nigeria’s South East region. For decades, Aba—fondly called the "Japan of Africa"—has been celebrated for its industrious spirit,…

Jul

2025

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Restoring Financial Prudence: Governor Otti’s Quite Revolution In Abia’s Finances – By Ebere Uzoukwa Ph.D (SSA To Governor Otti On Public Affairs)

Abia State, Columns/Opinions/Letters, Economy, Good Governance

Restoring Financial Prudence: Governor Otti’s Quiet Revolution in Abia’s Finances By Ebere Uzoukwa, PhD When Dr. Alex Chioma Otti assumed office as Governor of Abia State in May 2023, he did not just inherit the paraphernalia of government—he inherited a state grappling with deep financial instability. With a domestic debt stock of ₦138 billion, a bloated and fraudulent payroll system, and a legacy of unchecked fiscal recklessness, the economic condition of Abia was dire. Many believed that only an emergency intervention—most likely involving heavy borrowing—could prevent the state from economic collapse. Contrary to expectations, Governor Otti did not resort to…